Petrol, diesel prices today — 7 Aug: Fuel rates in Delhi, Mumbai, Bengaluru as Brent climbs on Iran strikes in Hormuz
Petrol, diesel prices today — 7 Aug: Retail fuel rates held steady on 7 August, despite a rise in Brent crude caused by news of Iran strikes in Hormuz. Check fuel rates in Delhi, Mumbai, Bengaluru, Kolkata and other cities.
Petrol and diesel prices in major Indian cities remained largely unchanged on August 7 despite fluctuations in crude oil prices, which were influenced by geopolitical tensions in West Asia. Despite setbacks in reopening the Strait of Hormuz, crude prices continued to rise, especially after Brent crude edged higher, trading around $83.45 a barrel.
US Bank Asset Management Group's Rob Haworth noted that negotiations to reopen the strait remained elusive, with low shipping traffic and unclear prospects for a durable deal. Meanwhile, Iran launched fresh attacks on "hostile targets" in the Persian Gulf, with Tehran demanding compensation from hostile countries under the proposed Iran-Oman agreement.
Despite these developments, the Indian retail fuel markets remained shielded from price fluctuations by state-owned oil marketing companies setting fuel rates.
Written by urgent.news from Live Mint's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Iran says deal on Strait of Hormuz is close but will not open the waterway by itself al-monitor.com
- What is the Strait of Hormuz deal being negotiated between Iran and Oman? thenationalnews.com
- US official: 'We expect a deal soon' between Iran and Oman on Strait of Hormuz middleeasteye.net
- Iran says deal on Strait of Hormuz is close but will not open the waterway by itself channelnewsasia.com
- US-Iran war LIVE: US expects Iran-Oman deal on Hormuz soon; Saudi signs joint defense pact with Pakistan, Turkey livemint.com
- Iran, Oman continue to negotiate Strait of Hormuz deal cbsnews.com
- Iran war live: Trilateral Mecca defence pact signed, as Hormuz deal looms aljazeera.com
